Petromin marine and offshore Jan-Feb Issue
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Meanwhile, the global market<br />
has reloaded just over 2 million<br />
mt of LNG this year, down from<br />
a peak of nearly 6 million mt in<br />
2014, when the JKM averaged<br />
US$13.86/MMBtu.<br />
be used to build new LNG bunker<br />
vessels to allow ship-to-ship<br />
LNG bunkering <strong>and</strong> to build LNGfuelled<br />
vessels.<br />
Storage <strong>and</strong> reload costs on<br />
a US$/MMBtu basis are even<br />
higher for medium <strong>and</strong> smallsize<br />
LNG cargoes, one of the<br />
potential growth areas for Singapore.<br />
The future of Singapore’s further<br />
plans to develop the LNG sector,<br />
including LNG bunkering plans <strong>and</strong><br />
leveraging LNG as a <strong>marine</strong> fuel –<br />
an alternative to the currently used<br />
<strong>marine</strong> diesel oil – are dependent<br />
on several factors including the areas<br />
where the vessel operates, the<br />
life of the ship, <strong>and</strong> most importantly,<br />
its relative price to other fuels.<br />
To boost LNG bunkering in Singapore,<br />
the Maritime <strong>and</strong> Port<br />
Authority of Singapore has announced<br />
in December 2017 that it<br />
has pumped another S$12 million<br />
into the industry. The funds will<br />
<strong>Jan</strong>uary to <strong>Feb</strong>ruary 2018 17
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